National Bank of Poland interest rates in March 2025

13 March 2025

National Bank of Poland interest rates in March 2025
On March 11-12, 2025, the Monetary Policy Council held a meeting during which it decided to keep the interest rates unchanged.

Current National Bank of Poland interest rates:

reference rate at 5.75% on an annual basis
lombard rate at 6.25% on an annual basis
deposit rate at 5.25% on an annual basis
rediscount rate at 5.80% on an annual basis
discount rate at 5.85% on an annual basis

In the post-meeting release, the Monetary Policy Council notes:  
“According to the Statistics Poland preliminary data, annual CPI inflation in January 2025 rose to 5.3%. The rise in inflation significantly above the NBP target from mid-2024 was mainly due to the implemented increases in the administered energy prices – in particular partial unfreezing of energy carriers prices from July 2024 and the increase in natural gas distribution tariffs from January 2025 – as well as, albeit to a lesser extent, the higher annual growth in prices of food and non-alcoholic beverages. At the same time, core inflation is also elevated, mainly due to rapidly rising services prices, amid high wage growth.” 

If you have any further questions or require additional information, please contact your business relationship person or use the enquiry form on the HLB Poland website.

***

This publication is non-binding information and serves for general information purposes. The information provided does not constitute legal, tax or management advice and does not replace individual advice. Despite careful processing, all information in this publication is provided without any guarantee for the accuracy, up-to-date nature or completeness of the information. The information in this publication is not suitable as the sole basis for action and cannot replace actual advice in individual cases. The liability of the authors or getsix® are excluded. We kindly ask you to contact us directly for a binding consultation if required. The content of this publication iis the intellectual property of getsix® or its partner companies and is protected by copyright. Users of this information may download, print and copy the contents of the publication exclusively for their own purposes.